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Kkalpana lndustries (India) Ltd. Stock Analysis

Small Cap
Evaluated by 266 users | BSE: 526409 | NSE: |
Plastic Products
The year was 1977, the PVC industry was beginning to spread its wings. Recognizing this as an opportunity area, the Kalpena Industries made a small beginning the same year in Kolkata. From the very start, the group’s focus was clear. It established a nice for itself in the shoe &...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 16.87%8.57%9.18%7.43%7.04%6.73%9.61%9.47%9.89%12.32%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 7198439101,1671,2331,7131,8581,9501,7282,009
Y-o-Y Gr. Rt.-17.3%8%28.2%5.6%39%8.4%5%-11.4%16.3%
Adjusted EPS (Rs.) 4.81.822.512.112.012.312.832.181.912.12
Y-o-Y Gr. Rt.--62.1%37.9%-15.9%-4.7%14.9%22.5%-23%-12.4%11%
Book Value per Share (Rs.) 18.5419.232122.8524.3524.4825.729.1331.4433.86
Adjusted Net Profit 27.716.823.619.91921.726.620.51819.9
Net Op. Cash Flow (Rs. Cr.) 3.1-5.2-6.222.544.513287.383.3204172
Debt to Cash Flow from Ops 43.87-31.61-36.517.3310.513.484.164.211.10.8
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Kkalpana lndustries (India) Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 12.1%10.3%2.6%16.3%
Adjusted EPS -8.7%1.1%-9.2%11%
Book Value per Share 6.96.89.67.7
Share Price 2.4% -4.8% -15% 8%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 28.5611.1212.49.548.479.3711.27.946.36.48
Operating Profit Margin (%) 7.565.136.054.775.584.324.874.755.515.11
Net Profit Margin (%) 3.8522.591.71.541.271.431.051.040.99
Debt to Equity 1.280.931.141.812.041.991.51.280.760.43
Working Capital Days 9910512911812010510394117100
Cash Conversion Cycle 70748574786267789681
Entity Percentage Holding
Promoters 74.84%
Non-Institutions 25.16%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Kkalpana lnds. (I)'s performance infers:

Kkalpana lnds. (I) earnings have grown by 1.1%, whereas share price has depreciated -4.8% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Kkalpana lnds. (I) share prices over the last 10 years. Here is what we found out:

Kkalpana lnds. (I) share price has depreciated -4% annually over the past ten years.

The year was 1977, the PVC industry was beginning to spread its wings. Recognizing this as an opportunity area, the Kalpena Industries made a small beginning the same year in Kolkata. From the very start, the group’s focus was clear. It established a nice for itself in the shoe & cable industries as a quality supplier of PVC compounds. After that, there was no looking back. The Group charted an aggressive strategy for growth through capacity expansion and diversification action.

The year was 1977, the PVC industry was beginning to spread its wings. Recognizing this as an opportunity area, the Kalpena Industries made a small beginning the same year in Kolkata. From the very start, the group’s focus was clear. It established a nice for itself in the shoe & cable industries as a quality supplier of PVC compounds. After that, there was no looking back. The Group charted an aggressive strategy for growth through capacity expansion and diversification action.

Within just seven years from start of operations, Kalpena established a modern unit at Daman for the manufacture of PVC compounds. Sustained growth over the next decade necessitated another round of expansion in 1994, when the group set up a second unit in Daman. This state-of-the art plant employed the latest process technology to manufacture XLPE compounds.

Having established itself as a leader in PVC compounding, the group realized that its core strength was in “Compounding” and thus decided to look beyond PVC by setting up units to manufacture specialty compounds like Silance and Preoxide based XLPE, zero halogen FRLS, NBR/PVC, anti-fibrication, semi-conductive, automotive, cross linkable EVA foam compound and also additive master baches for both National and International markets. Further the group is diversifying into manufacturing of primary and secondary plasticizer and Engineering Plastic Compounds.

The company has very recently commissioned new Buss Ko Kneader to manufacture XLPE compound for Medium Voltage cables upto 33KV. It is first Indian manufacturer to produce this product in the country. This will result into import substitution. Very recently, it has very successfully launched PPR compound for Pipe and fittings.

Product range of the company includes:

PVC Compounds  

  • Insulation
  • Sheating
  • Insulation and Sheating for Flexible Cables, Thin Cables, Flat Cables, Heat Resistant Cables, Flame Retardent & Low Smoke Cables, Oil Resistant Cables

PE Compounds 

  • Silane Grafted XLPE Compounds  (LT / LTABC / FR / SELF CURE / MV)
  • XLPE Compounds for Vulcanization line
  • PE Jacketing
  • Zero Halogen FRLS Compounds
  • XLPE Compounds for Vulcanization line
  • Cable Insulation (upto 36 KV).
  • Telephone Cables.
  • Flame Retardent & Low Smoke Cables.
  • Medium Voltage Cables (33 KV).

Footware Compounds  

  • PVC
  • Compact & Micro cellular
  • Shoe sole, Complete Shoe, Slipper / Sandal.
  • TRA
  • Glossy, Matt, Semi - matt Transparent & colour
  • Unit sole, Heel, Mid sole.
  • PVC / NBR
  • Compact & Micro-cellular
  • Shoe sole, Complete Shoe.
  • EVA
  • Cross linked Foam
  • Slipper / Sandal.

Pipe Compounds

  • PPR
  • PEX

Recent developments

Kalpena Industries members at the Extra Ordinary General Meeting (EGM) of the Company held on April 26, 2009, have approved the increase of Authorized Share Capital from existing 12 crore to 15 crore by creating additional 30,00,000 Equity Shares of Rs 10 each. (Ordinary).

The EGM also approved the issue of 9,50,000 Compulsory Convertible Debentures (CCDs) by way of Preferential allotment to (i) Banyan Tree Growth Capital LLC. (BTGC) (ii) Financierings Maatschappij Voor Ontwikkelingslanden N V (FMO) at a price of Rs 93.15 per CCD, subject to the approval of Stock Exchange and other regulatory authorities.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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